Business performance management
Business performance management (BPM) is a set of processes that help organizations optimize business performance. BPM is seen as the next generation of business intelligence (BI). BPM is focused on business processes such as planning and forecasting. It helps businesses discover efficient use of their business units, financial, human, and material resources.
BPM involves consolidation of data from various sources, querying, and analysis of the data, and putting the results into practice.
BPM enhances processes by creating better feedback loops. Continuous and real-time reviews help to identify and eliminate problems before they grow. BPM's forecasting abilities help the company take corrective action in time to meet earnings projections. Forecasting is characterized by a high degree of predictability which is put into good use to answer what-if scenarios.
BPM is useful in risk analysis and predicting outcomes of merger and acquisition scenarios and coming up with a plan to overcome potential problems.
BPM provides Citibank has moved onto a weekly availability of KPI related data or sometimes a daily analysis of numbers. This means that data should usually be available within 24 hours at most times, necessicitating the use of IT systems to achieve this.
BPM integrates the company's processes with CRM or ERP. Companies become able to gauge customer satisfaction, control customer trends and influence shareholder value.
Companies providing BPM software
- Appian Corporation
- Brio Software
- Business Objects
- Business-Soft
- Cartesis
- Cognos
- Comshare
- Hyperion Solutions
- Oberon-bwa
- SAS Institute
- Saksoft
- OutlookSoft
- Inforay
See also
